Transposing the European Preventive Restructuring Directive: The Case of Countries-Candidates for EU Membership
KONONOV, Oleksiy
2025 • In KONONOV, Oleksiy; MASTRULLO, Thomas (Eds.) in LA PLACE DU DÉBITEUR ET DU CRÉANCIER DANS LA TRANSPOSITION DE LA DIRECTIVE (UE) 2019/1023 DITE « RESTRUCTURATION ET INSOLVABILITÉ »
preventive restructuring; Directive (EU) 2019/1023; accelerated restructuring; Moldova; Ukraine; candidates for EU membership; harmonisation; transposition; SMEs; insolvency; early warning tools; PRD; viable business; second chance; cramdown; micro and small enterprises; state aid; de minimis aid; creditors; restructuring plan; procedura restructurării accelerate
Abstract :
[en] This chapter examines the transposition of the European Preventive Restructuring Directive (PRD) in candidate countries for EU membership, focusing on Moldova and Ukraine. Both nations face significant economic challenges, including those arising from the Russo-Ukrainian war and the COVID-19 pandemic. Ukraine has legislated a PRD transposition law, set to take effect in 2025, introducing preventive restructuring frameworks but encountering ambiguities and potential implementation issues. Moldova, yet to formally transpose the PRD, employs an accelerated restructuring procedure with limited adoption. This analysis evaluates legislative adaptations, practical challenges, and the role of restructuring in fostering economic stability and aiding viable businesses in distress.
Disciplines :
Economic & commercial law
Author, co-author :
KONONOV, Oleksiy ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Law (DL)
External co-authors :
no
Language :
English
Title :
Transposing the European Preventive Restructuring Directive: The Case of Countries-Candidates for EU Membership
Publication date :
16 October 2025
Main work title :
in LA PLACE DU DÉBITEUR ET DU CRÉANCIER DANS LA TRANSPOSITION DE LA DIRECTIVE (UE) 2019/1023 DITE « RESTRUCTURATION ET INSOLVABILITÉ »
Editor :
KONONOV, Oleksiy ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Law (DL)
MASTRULLO, Thomas ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Law (DL)
Publisher :
Larcier Intersentia, Luxembourg, Luxembourg
Edition :
1ère
ISBN/EAN :
978-2-8079-5128-0
Collection name :
Collection de la Faculté de Droit, d'Économie et de Finance de l'Université du Luxembourg
Pages :
163 - 215
Peer reviewed :
Editorial reviewed
Focus Area :
Law / European Law
European Projects :
HE - 101101923 - null - MSCA4Ukraine
Name of the research project :
Small and Medium-Sized Enterprises and the EU Preventive Restructuring Directive 2019/1023 Success or Failure? (SMEPRD)
Funders :
EC - European Commission European Union
Funding number :
UKR-1232865 - MSCA4Ukraine
Funding text :
This project has received funding through the MSCA4Ukraine, which is funded by the European
Union. Views and opinions expressed are however those of the author only and do not necessarily
reflect those of the European Union. Neither the European Union nor the MSCA4Ukraine
Consortium as a whole nor any individual member institutions of the MSCA4Ukraine Consortium
can be held responsible for them.
This chapter is available in Open Access, made possible by the Faculty of Law, Economics and
Finance of the University of Luxembourg within the framework of the SMEPRD research project.
